ProQR Therapeutics (NASDAQ:PRQR) Downgraded to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of ProQR Therapeutics (NASDAQ:PRQR) from a hold rating to a strong sell rating in a research note released on Saturday.

Several other research analysts also recently issued reports on the stock. Oppenheimer initiated coverage on shares of ProQR Therapeutics in a research report on Thursday, March 12th. They set an “outperform” rating and a $9.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of ProQR Therapeutics in a research report on Tuesday, April 21st. Citigroup restated a “market outperform” rating on shares of ProQR Therapeutics in a research report on Friday, March 13th. Finally, Chardan Capital restated a “buy” rating and set a $4.00 target price on shares of ProQR Therapeutics in a research report on Thursday, April 9th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $7.25.

ProQR Therapeutics Stock Down 3.6%

Shares of NASDAQ PRQR opened at $1.59 on Friday. The firm’s 50-day simple moving average is $1.70 and its 200 day simple moving average is $1.86. The company has a market cap of $167.52 million, a price-to-earnings ratio of -3.18 and a beta of 0.08. ProQR Therapeutics has a 12-month low of $1.33 and a 12-month high of $3.10.

ProQR Therapeutics (NASDAQ:PRQR) last issued its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.15). The business had revenue of $2.35 million for the quarter, compared to the consensus estimate of $5.19 million. ProQR Therapeutics had a negative net margin of 331.33% and a negative return on equity of 84.87%. On average, equities analysts expect that ProQR Therapeutics will post -0.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted its position in ProQR Therapeutics by 59.6% during the 2nd quarter. Osaic Holdings Inc. now owns 12,050 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 4,500 shares during the period. Persistent Asset Partners Ltd increased its stake in shares of ProQR Therapeutics by 24.5% in the 4th quarter. Persistent Asset Partners Ltd now owns 45,154 shares of the biopharmaceutical company’s stock valued at $91,000 after acquiring an additional 8,874 shares during the last quarter. Diadema Partners LP increased its stake in shares of ProQR Therapeutics by 6.2% in the 4th quarter. Diadema Partners LP now owns 167,532 shares of the biopharmaceutical company’s stock valued at $338,000 after acquiring an additional 9,838 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of ProQR Therapeutics by 15.2% in the 3rd quarter. Raymond James Financial Inc. now owns 110,270 shares of the biopharmaceutical company’s stock valued at $235,000 after acquiring an additional 14,549 shares during the last quarter. Finally, OneDigital Investment Advisors LLC increased its stake in shares of ProQR Therapeutics by 23.1% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 80,000 shares of the biopharmaceutical company’s stock valued at $170,000 after acquiring an additional 15,000 shares during the last quarter. 32.65% of the stock is currently owned by institutional investors and hedge funds.

ProQR Therapeutics Company Profile

ProQR Therapeutics N.V. is a clinical-stage biotechnology company dedicated to developing RNA-based therapies for severe genetic diseases. Utilizing its proprietary Axiomer® RNA editing platform, ProQR aims to correct disease-causing mutations directly at the messenger RNA level. The company’s pipeline features several investigational candidates, including sepofarsen (formerly QR-110) for Leber congenital amaurosis type 10, QR-421a targeting Usher syndrome and certain forms of retinitis pigmentosa, and QR-313 for dystrophic epidermolysis bullosa.

Founded in 2012 and headquartered in Leiden, the Netherlands, ProQR maintains a significant presence in Cambridge, Massachusetts, to support its clinical research and regulatory initiatives.